Bitcoin Daily Chart Alert: Bears Hold Technical Advantage

According to the latest analysis from Bitget, the Bitcoin daily chart is showing signs of a bearish trend. The recent price uptrend on the daily bar chart has been negated, indicating that the bulls have faded. This shift in market sentiment suggests that the bears currently hold the technical advantage.

The April bitcoin futures prices remain near steady in early U.S. trading on Friday, March 20. However, this stability does not necessarily indicate a strong upward trend. In fact, the bearish momentum is expected to persist in the near term, as highlighted by the Wyckoff's Market Rating of 4.0.